(a) To allow proper legal action by the Corporation on any matter germane to its powers or duties, each proceeding in which the impaired insurer is a party in a court in the State shall be stayed for 60 days after the date an order of liquidation, rehabilitation, or conservation is final.
(b) If a court enters a judgment under a decision, order, verdict, or finding based on default, the Corporation may:
(1) apply to have the judgment, decision, order, verdict, or finding set aside by the same court that made it; and
(2) defend against the suit on the merits.
Structure Maryland Statutes
Subtitle 4 - Life and Health Insurance Guaranty Corporation Act
Section 9-402 - Purpose of Subtitle
Section 9-403 - Scope of Subtitle
Section 9-406 - Board of Directors
Section 9-407 - Powers and Duties of Corporation
Section 9-407.1 - Assumption of Reinsurance Contracts
Section 9-408 - Additional Powers of Corporation
Section 9-410 - Plan of Operation
Section 9-411 - Duties and Powers of Commissioner; Judicial Review; Notice of Effect of Subtitle
Section 9-412 - Detection and Prevention of Insurer Impairments
Section 9-413 - Special Deputy
Section 9-414 - Miscellaneous Provisions
Section 9-415 - Examination and Regulation; Financial Report
Section 9-416 - Exemption From Payment of Fees and Taxes
Section 9-417 - Immunity From Liability